Britain could lose its 'triple A' credit rating

THE government's stewardship of the economy has come under fresh fire after warnings that Britain could face a humiliating loss of its premium credit rating - for the first time in more than 30 years. Ratings agency Standard & Poor's said national debt could rise to 100 per cent of output by 2013, leading to the UK losing its `AAA' status.

THE government's stewardship of the economy has come under fresh fire after warnings that Britain could face a humiliating loss of its premium credit rating - for the first time in more than 30 years.

Ratings agency Standard & Poor's said national debt could rise to 100 per cent of output by 2013, leading to the UK losing its `AAA' status.

Shadow Chancellor George Osborne renewed calls for a general election and said the government was `putting our economic stability at risk'.

Liberal Democrat spokesman Vince Cable added: "Until the government comes clean about how it intends to pay back its debt, it is perfectly possible that we will see a further deterioration in Britain's rating."